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Equity of American Assets Trust, Inc. (Tables)
 12 Months Ended
Dec. 31, 2019
Equity [Abstract]  
Dividends declared and paid on shares of common stock and noncontrolling common units
The following table lists the dividends declared and paid on our shares of common stock and Noncontrolling Common Units for the years ended December 31, 2019, 2018 and 2017:
Period
 
Amount per Share/Unit
 
Period Covered
 
Dividend Paid Date
First Quarter 2017
 
$
0.26

 
January 1, 2017 to March 31, 2017
 
March 30, 2017
Second Quarter 2017
 
$
0.26

 
April 1, 2017 to June 30, 2017
 
June 29, 2017
Third Quarter 2017
 
$
0.26

 
July 1, 2017 to September 30, 2017
 
September 28, 2017
Fourth Quarter 2017
 
$
0.27

 
October 1, 2017 to December 31, 2017
 
December 21, 2017
First Quarter 2018
 
$
0.27

 
January 1, 2018 to March 31, 2018
 
March 19, 2018
Second Quarter 2018
 
$
0.27

 
April 1, 2018 to June 30, 2018
 
June 28, 2018
Third Quarter 2018
 
$
0.27

 
July 1, 2018 to September 30, 2018
 
September 27, 2018
Fourth Quarter 2018
 
$
0.28

 
October 1, 2018 to December 31, 2018
 
December 27, 2018
First Quarter 2019
 
$
0.28

 
January 1, 2019 to March 31, 2019
 
March 28, 2019
Second Quarter 2019
 
$
0.28

 
April 1, 2019 to June 30, 2019
 
June 27, 2019
Third Quarter 2019
 
$
0.28

 
July 1, 2019 to September 30, 2019
 
September 26, 2019
Fourth Quarter 2019
 
$
0.30

 
October 1, 2019 to December 31, 2019
 
December 26, 2019
Summary of income tax status of dividends per share paid A summary of the income tax status of dividends per share paid is as follows:
 
 
Year Ended December 31,
 
 
2019
 
2018
 
2017
 
 
Per Share
 
%
 
Per Share
 
%
 
Per Share
 
%
Ordinary income
 
$
1.09

 
95.6
%
 
$
1.05

 
96.3
%
 
$
1.05

 
100.0
%
Capital gain
 
—

 
—
%
 
—

 
—
%
 
—

 
—
%
Return of capital
 
0.05

 
4.4
%
 
0.04

 
3.7
%
 
—

 
—
%
Total
 
$
1.14

 
100.0
%
 
$
1.09

 
100.0
%
 
$
1.05

 
100.0
%
Schedule of restricted common stock
The following shares of restricted common stock have been issued as of December 31, 2019:
Grant
Fair Value at Grant Date
Number
June 13, 2017 (1)
$40.99
4,880

December 15, 2017 (2)
$27.27
145,218

June 12, 2018 (1)
$37.58
5,320

December 6, 2018 (3)
$25.68 - $28.18
199,790

June 11, 2019 (1)
$45.35
4,412

December 9, 2019 (4)
$28.06 - $30.97
168,596


(1)
Restricted common stock issued to members of the company's non-employee directors. These awards of restricted stock will vest subject to the director's continued service on the Board of Directors on the earlier of (i) the one year anniversary of the date of grant or (ii) the date of the next annual meeting of our stockholders, if such non-employee director continues his or her service on the Board of Directors until the next annual meeting of stockholders, but not thereafter, pursuant to our independent director compensation policy.
(2)
Activity of restricted stock awards
The following table summarizes the activity of non-vested restricted stock awards during the year ended December 31, 2019:
 
2019
 
Units
 
Weighted Average Grant Date Fair Value
Balance at beginning of year
342,093

 
$
28.33

Granted
173,008

 
29.99

Vested
(99,304
)
 
28.23

Forfeited
(70,644
)
 
30.44

Balance at end of year
345,153

 
$
28.75
Computation of basic and diluted EPS
The computation of basic and diluted EPS for American Assets Trust, Inc. is presented below (dollars in thousands, except share and per share amounts):
 
Year Ended December 31,
 
2019
 
2018
 
2017
NUMERATOR
 
 
 
 
 
Net income
$
60,188

 
$
27,202

 
$
40,132

Less: Net income attributable to restricted shares
(381
)
 
(311
)
 
(241
)
Less: Income attributable to unitholders in the Operating Partnership
(14,089
)
 
(7,205
)
 
(10,814
)
Net income attributable to common stockholders—basic
$
45,718

 
$
19,686


$
29,077

Income attributable to American Assets Trust, Inc. common stockholders—basic
$
45,718

 
$
19,686

 
$
29,077

Plus: Income attributable to unitholders in the Operating Partnership
14,089

 
7,205

 
10,814

Net income attributable to common stockholders—diluted
$
59,807

 
$
26,891

 
$
39,891

DENOMINATOR
 
 
 
 
 
Weighted average common shares outstanding—basic
54,110,949

 
46,950,812

 
46,715,520

Effect of dilutive securities—conversion of Operating Partnership units
16,675,183

 
17,185,747

 
17,371,730

Weighted average common shares outstanding—diluted
70,786,132

 
64,136,559

 
64,087,250

 
 
 
 
 
 
Earnings per common share, basic
$
0.84

 
$
0.42

 
$
0.62

 
 
 
 
 
 
Earnings per common share, diluted
$
0.84

 
$
0.42

 
$
0.62